Saving Bank Account

This is the most basic type of account you can open at any bank. A Savings Account, by definition, allows you to deposit your money, safe with the bank, so you don’t have to carry it around with you or hide it in that rusted old steel safe at home. Don’t worry, you can withdraw these funds when you need them. Also provide cheque book pass book and ATM card.

There are different types of savings accounts to choose from, and they’re not all alike. The options include traditional savings accounts, high-yield savings accounts, money market accounts, certificates of deposit, cash management accounts and specialty savings accounts.

  • Gain peace of mind knowing your money is insured. …
  • Earn interest on your savings. …
  • Benefit from the best of both worlds with a checking account and a savings account.

Key Takeaways. Savings accounts are a safe place to keep your money because all deposits made by consumers are guaranteed by the DICGC for bank accounts.